Online marketplace eBay reported an 18 percent jump in fourth-quarter revenue Wednesday but profits dropped compared to the year earlier period, when the company booked more than $1 billion in earnings from its sale of Skype to Microsoft.
EBay said its revenue jumped to $4 billion from $3.4 billion a year ago. Excluding proceeds from its Skype sale, profits climbed to $927 million from $789 million a year earlier.
Pushing the company forward was a 24-percent rise in sales at online payment platform Paypal, which processed transactions worth $41.5 billion in the quarter.
"We had a great finish to an excellent year, with fourth-quarter results exceeding our expectations," CEO John Donahoe said. "EBay Marketplaces in particular had a terrific fourth quarter, with growth in the US accelerating three points, outpacing ecommerce."
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